Studio Flat For Sale £27,000
Wellingborough Road, Rushden NN10

Suitable for Investors/Cash buyers only - this is not an apartment, it is a chance to buy the freehold only

Available for sale is this freehold interest/reversion of Oakley House, Rushden which is a former public house which is now home to nine one and two bedroomed apartments with associated gated parking to the rear.

Ground Rents for Oakley House

The block contains 9 long leasehold units (all 120 years plus remaining) with a current ground rent payable of £200 per annum. Total income is therefore £1,800 per annum. As of November 2020, all nine units are paid up to date.

Asking price offers are invited above £27,000 which equates to being a 6.67% yield based on minimum income.

Extra income will be achieved on
- change of ownership where admin fee can be charged
- leasehold extensions
- increases subject to leasehold clauses over a period of time

All leases follow a similar format and an example is available upon request to interested parties.